Market Cap
The market cap usually indicates the popularity of a cryptocurrency, and the more popular the cryptocurrency, the easier people come to know about it and want to invest in it. However, it’s also essential to look at the factors that form the market cap.
Market cap is essentially the product of the current price of the cryptocurrency and the volume of supply in circulation. If the volume in circulation is exceptionally high, it becomes difficult for the cryptocurrency value to grow. Dogecoin is the perfect example of this. The value of 1 dogecoin is around 0.2 dollars, and its volume is about 131 billion.
This is just one of the reasons why it’ll be pretty difficult for Dogecoin to grow.
